What are Marketplace Simulations?

Let your students experiment with entrepreneurship strategies in an engaging game-like exercise. They launch new products to the market and manage the entire product life cycle, from introduction to growth to maturity. Learning content is gradually and purposefully introduced as the market evolves.

Core Learning Content

Entrepreneurship

Start up and run a new venture. Students face new issues, decisions, and information as they naturally unfold over the life-cycle of a company/product. A pitch to outside investors can be added to further contribute to entrepreneurial insights.

Marketing

Develop, price, and promote a portfolio of brands using strategies based upon segment needs, market size, price points, competition, and ability to adapt. Simulations in our new Bike Edition additionally cover the essentials of internet marketing.

Sales

Create global expansion strategy based on market potential, costs, and available resources.

Key Differences Between Entrepreneurship Simulations

Focuses on the development and management of entrepreneurial strategy across all functional areas and over time. Establishes the need for strategic planning. Highlights the basics of entrepreneurship for a holistic view.

Focuses on the development and management of entrepreneurial strategy across all functional areas and over time. Extensive use of the tools of management is required for success.

Builds on Venture Strategy with a focus on Conscious Capitalism. Students consider all of the firm’s stakeholders and deal with HR, ethical, environmental, and sustainability issues.

Provides a deep understanding of the entire entrepreneurial venture in the global market. Students must deal with complex strategic and tactical issues across all functional areas in response to evolving international issues.

Typical courses

First course in entrepreneurship

Entrepreneurship and capstone business courses

Entrepreneurship, corporate governance, and capstone courses

Capstone, integrative entrepreneurship courses

Educational level

Second or third year undergraduate students

Third and fourth year undergraduates. Introductory courses at the master’s level are also viable

Advanced undergraduates; MBA / EMBA‘s

Decision rounds

6 decision rounds of 60 to 75 minutes

6 decision rounds of 1.5 to 2 hours

6 decision rounds of 2 to 3 hours

8 to 12 decision rounds of 4 to 5 hours per round, 8 rounds are recommended.

Class size

20 to 40 students. The optimal game size is 4-6 teams of 4-5 students, up to 8 teams are possible. Parallel games work well with larger classes.

• Compete against classmates or computer (all games playable against classmates)

Instructor Involvement

Instructor/student interaction is encouraged. Students are highly receptive to coaching, targeted lectures, and exercises that enhance their business acumen. A variety of these resources are provided to help instructors. In contrast, little effort is required to help students with Marketplace. Student work is self-guided with an intuitive interface and built-in lectures, help files, and Microsimulations — everything they need is at their fingertips. A balanced scorecard is used for student feedback, management by the numbers, and grading.

"Thank you and the Marketplace Live team for a great semester. My entrepreneurship students learned a lot through the simulation. I plan to use it again this next semester and have invited one of our adjunct entrepreneurship professors to use the simulation" - Ross O. Dallas Baptist University

Accessibility

MARKETPLACE, MARKETPLACE LIVE, MARKETPLACE SIMULATIONS, and the Globe Design are trademarks of Ernest Cadotte and Innovative Learning Solutions, Inc., and may not be used or reproduced without permission. Copyright 2018 Innovative Learning Solutions, Inc. All rights reserved.